Credit Agricole FCPI collects EUR59m

Funds

Credit Agricole Private Equity's FCPI innovation fund has collected EUR59m in investments. The fund investors plan to take full advantage of the 2007 'TEPA' act in which French tax payers can reduce their wealth tax liability by up to 40% by investing in SMEs.

Investors

Investors were 5,365 high-net-worth customers of banks including LCL, BGPI and Credit Foncier de Monaco. On average each investor committed EUR11,000.

Investments

The new fund will invest directly in European SMEs to finance their growth. Their assets will be 60% invested in innovative European SMEs, including 40% in young companies under five years old.

People

Credit Agricole Europe Innovation 2008 will be managed by Credit Agricole Private Equity's venture capital team, which is comprised of 11 people.

Name: Credit Agricole Europe Innovation 2008

Focus: Early-stage, Expansion

Contact: Antoine Colboc

Address: 100, boulevard du Montparnasse

75682

Paris

Tel + 33 1 43 23 21 21.

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